“Minister of Economy and Sustainable Development Mariam Kvrivishvili has signed several strategic agreements in Baku covering the energy and transport sectors between Georgia and Azerbaijan, among which particular note should be made of intergovernmental agreements on the supply of natural gas to Georgia for a period of twenty years, as well as on the supply and transit of electricity,” reads the statement released by the Ministry of Economy and Sustainable Development, Georgian Public Broadcaster reports.
According to the Ministry, the comprehensive energy sector agreement is the result of several months of successful negotiations between the two governments. It is a significant step forward in strengthening Georgia’s energy security and advancing the development of the regional energy corridor.
“It should be noted that the contract for the purchase and sale of additional gas from Azerbaijan, concluded in 2003, had expired; accordingly, the conclusion of a new contract and its extension for a period of twenty years is of particular importance for strategic cooperation within the framework of the South Caucasus Pipeline project.
During the visit to Baku, a new agreement was also signed concerning the operation contract for the Georgian section of the Baku–Supsa oil pipeline. This agreement will secure the continued transit of oil from Central Asia through Georgia to Europe and is expected to boost revenue for our country’s budget.
Of particular note is the signing of a protocol of the bilateral Coordinating Council, pursuant to which the new section of the Baku–Tbilisi–Kars railway will be brought into full operation.
The document was signed by Georgian Minister of Economy and Sustainable Development Mariam Kvrivishvili and Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev.
It is also of great significance that, under the decision reached between the parties, daily passenger rail services between Tbilisi and Baku will resume on May 26 this year, following a six-year suspension. The comprehensive package of agreements concluded between Georgia and Azerbaijan in the energy sector is an agreement of historic importance, which will further deepen the economic ties between our countries and strengthen Georgia’s energy security,” the released statement reads.
Deputy Minister Tamar Ioseliani, as well as the heads of the Georgian Oil and Gas Corporation, the Georgian State Electrosystem, and ESCO, accompanied Minister Kvrivishvili to Baku.
